Northwest & Ethical Investments L.P. raised its stake in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 36.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,887 shares of the software maker's stock after buying an additional 54,699 shares during the period. Northwest & Ethical Investments L.P. owned 0.08% of Open Text worth $5,731,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blueshift Asset Management LLC acquired a new stake in shares of Open Text in the fourth quarter worth $377,000. Generali Asset Management SPA SGR acquired a new position in Open Text during the 4th quarter worth $62,000. Brandes Investment Partners LP lifted its position in Open Text by 29.2% during the 4th quarter. Brandes Investment Partners LP now owns 4,504,139 shares of the software maker's stock worth $127,557,000 after acquiring an additional 1,017,065 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in Open Text by 5.5% during the fourth quarter. Achmea Investment Management B.V. now owns 103,332 shares of the software maker's stock valued at $2,923,000 after acquiring an additional 5,408 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Open Text in the fourth quarter valued at about $8,685,000. Institutional investors and hedge funds own 70.37% of the company's stock.
Open Text Price Performance
Shares of Open Text stock traded up $0.23 during mid-day trading on Tuesday, reaching $27.16. 909,431 shares of the stock were exchanged, compared to its average volume of 754,061. Open Text Co. has a fifty-two week low of $24.86 and a fifty-two week high of $39.87. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 11.04 and a beta of 1.17. The firm has a 50-day simple moving average of $27.50 and a 200 day simple moving average of $29.64. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.50.
Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, sell-side analysts predict that Open Text Co. will post 3.45 EPS for the current fiscal year.
Open Text Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.2625 dividend. This is an increase from Open Text's previous quarterly dividend of $0.26. The ex-dividend date was Friday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.87%. Open Text's payout ratio is presently 42.68%.
Wall Street Analysts Forecast Growth
OTEX has been the subject of several recent analyst reports. Barclays increased their target price on Open Text from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on Open Text from $33.00 to $31.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. TD Securities dropped their target price on shares of Open Text from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Sunday, February 9th. UBS Group assumed coverage on shares of Open Text in a research note on Tuesday, December 17th. They set a "neutral" rating and a $32.00 target price for the company. Finally, Citigroup boosted their price objective on shares of Open Text from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.18.
View Our Latest Stock Analysis on OTEX
About Open Text
(
Free Report)
Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.
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